Technological Advancements Drive Changing Consumer Patterns In Auto Sector
India is currently thriving on the crest of the technological realm, making it significant for every industry to adopt and embrace tech advancement. This digital transition has greatly influenced consumer behaviors. So, to gain a deeper understanding of this phenomenon within the automotive sector, industry experts gathered at the BW Auto World's 40 under 40 summit in New Delhi on Wednesday.
Mohammed Zulfiquar Khanu, Digital Portfolio Lead – Service Exp at Mahindra & Mahindra, emphasised the need for innovation and high-quality services in today's fast-paced world. He said, “Consumer preferences are unpredictable and cannot be anticipated beforehand. However, with the rise of high-tech machines, the original equipment manufacturers (OEM) are compelled to embrace technology to fulfill customers’ demands.”
In a similar vein, Ravi Chandarana, Co-founder of Kwikfix Auto said nowadays majority of consumers prefer prompt service. Waiting is no longer acceptable and people anticipate immediate resolutions as they believe that technology can promptly address and resolve matters.
Chandarana stressed the idea of traveling to a specific store or repair center is becoming less appealing and consumers expect their car to be repaired swiftly just after contacting online.
Vihaan Pratik Malkan, Founder of DYD (Drive Your Dream) & Director of Arpanna Group shared his business tactics wherein by incorporating tech-driven strategies his company successfully met the needs and desires of automotive customers.Malkan said his company ensures doorstep car repair and services, prioritising minimal waiting time for consumers.
While technology plays a pivotal role in shaping consumer behavior, exerting a significant influence on their buying or service patterns. Hyder Khan, CEO, Godawari Electric Motors said in the past couple of years, there has been a noticeable shift in consumer preference towards next-generation vehicles.
Khan added “Customers are increasingly considering electric vehicles (EVs) as highly advanced and cutting-edge options. They desire vehicles equipped with the latest technology, including touchscreen interfaces, to fulfill their tech-savvy needs.”
Furthermore, Jayapradeep Vasudevan, Chief Business Officer (CBO), Raptee highlighted that the landscape of automobiles has drastically changed over the past decade. Previously, the emphasis was on mechanical components, but now, due to technological advancements, software and electronics play a pivotal role in modern vehicles
Vasudevan urged “We must commence efforts in upskilling the front-end team in software and electronics, as it would support a completely different landscape and enhance a new skill set.”
Apeksha Jain, Research Director & AMD Service Line Head at IPSOS, is involved in the consumer research business and aims to amplify the consumer's voice. According to her, there has been a significant transformation in the way customers discuss the automotive industry over the past 13 years.
She underscored that today automotive consumer looks for a complete ownership experience of vehicles. This is where factors such as safety, new technology and services become crucial in distinguishing any automobile company in the market, Jain concluded.
The panel was moderated by Vinkesh Gulati, Vice President of ASDC
